• Japanese firms will test a bank-backed cryptocurrency in 2022

    12 days ago - By Engadget

    Japan is about to take a significant step toward developing a digital currency. Per Reuters , a consortium made up of approximately 70 Japanese firms said this week they plan to launch a yen-based cryptocurrency in 2022. What's notable about the project, tentatively called “DCJPY,” is that three of the country's largest banks will back it. At a news conference on Wednesday, Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group said they've been meeting since last year to build a shared settlement infrastructure for digital payments. Some of the other...
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